White House releases budget request; MBA seeks clarifications from FHA on expanded COVID loss-mitigation options; MBA asks VA to consider appraisal-related policy reforms; HUD finalizes rule removing LIBOR as approved index for FHA ARMs; House bill seeks to make permanent mortgage insurance premium tax deduction.

FHA is cutting annual mortgage insurance premiums, effective March 20. Lenders are seeking operational clarity on loans already in the origination pipeline.

Federal housing agencies will continue to collaborate on loss-mitigation options following their teamwork when responding to the COVID-19 pandemic.

Ginnie Mae has reduced the required minimum size for mortgage-backed securities pools with home-equity conversion mortgages from $1.0 million to $250,000.

FHA is taking comments through April 17 on a request for information on the barriers consumers and lenders face in accessing the FHA 203(k) rehabilitation mortgage program.

The Department of Housing and Urban Development announced an agreement with Louisiana that will free borrowers from debt related to a program meant to mitigate against hurricane risk post Katrina.

The USDA’s Section 502 loan program could be the answer to the affordable housing crisis in towns near tourist attractions.

FHA to discontinue paper claims option; VA updates loan fees; Mortgage Bankers Association seeks Congressional action on multifamily housing; FHA corrects mortgagee letter on expanded loss-mitigation options; USDA maintains appraisal fee; HUD updates civil monetary penalties.

FHA will expand its loss-mitigation options to borrowers at risk of default even if COVID-19 wasn’t the cause of their economic challenges.

The Urban Institute has called on federal housing agencies to accommodate automated valuation models as their starting points, with human appraisers checking the accuracy of the data as a back-up.